Curious about others experiences…
So when you are asking for the MF for a potential lease… How far should you be through the process before you agree to have your credit run at the dealer?
I know MF is contingent upon a credit score, but on average, do Dealers trust you enough when you say “I know my score is approx. x” ?
Or, do they usually insist on running your credit to get an accurate score to give an accurate MF?
I remember my last 2 leases allowing a credit report to be run first… I feel like I am wiser this time,
But at the same time, I get that a dealer likely needs that info to give an accurate MF and therefore an accurate monthly payment… right?
I just don’t want to be at the point where I have 4 or 5 dealers running credit reports on me (and therefore dropping my score) with each hard pull,
and yet not ending up buying from any of them.
Thanks in advance,
Alan
An honest dealer will give it to you assuming top tier credit. Or just look around on the Edmunds forums.
Just search “make model lease residual” and an edmunds topic will almost always pop up first
Never have your credit pulled unless you want to move forward with signing the deal.
Dealership can give you MF based on tier 1, 2 … You should also know what your credit is like if good assuming 700+ let them know to give you a quote based off the lowest MF with best credit.
Once a dealer wanted to run my credit in order for them to give me a quote I laughed and walked out they wouldn’t stop calling me on my drive to the next dealership lol I never went back though. SMH.
its a psychological trick some dealers do, once you pull the credit, you’re more likely to do a deal with them because you don’t want to go to another dealer and pull credit again.
Unless you have a signed quote sheet, never pull credit and any dealer who suggests otherwise is not reputable.
I asked not to run my credit until car pick up couple of weeks later. Salesperson asked me “why not”, because we agreed on the deal and I left deposit. I said that I wanted to see the actual car first. I was their repeat customer, but still - credit score changes.
I don’t give out my SSN/DOB until the deal is 100% done and I’m ready to sign.
Just tell them you have top tier credit and to run it at that. Last thing to do is run credit. Do the deal without or walk